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Vietnamese outlet Tuoi Tre reported on April 23 (local time) that Hong Sun, honorary chairman of the Korean Chamber of Commerce in Vietnam (KOCHAM), said at a meeting with South Korean companies held on the sidelines of Lee’s visit that the president shared “a new direction” for bilateral cooperation.
Hong said Lee set a 2030 goal of $150 billion in two-way trade and identified priority areas including infrastructure, nuclear power, energy, critical minerals, supply chains, AI, climate-change response and advanced technologies.
◆ “Technology powerhouse and workforce, investment strengths — an inseparable link”
Hong said that in a “complex and unstable” global economy, building an economic alliance is an inevitable trend that can both open new opportunities and strengthen supply-chain security.
“South Korea has strengths in technology and engineering, and Vietnam has strengths in its workforce and investment environment,” he said. “That is an inseparable connection.”
About 10,000 South Korean companies operate in Vietnam across fields ranging from science and innovation to infrastructure and smart cities. As of last year, South Korea was Vietnam’s largest foreign investor with cumulative investment of $94.5 billion and remained Vietnam’s third-largest trading partner with about $89.5 billion in trade.
Samsung drew particular attention in the business delegation. Samsung Vietnam posted $64.9 billion in revenue last year and $57.1 billion in exports, returning to growth from the previous year. Its cumulative investment has exceeded $24 billion, and it operates six factories and an R&D center, positioning Vietnam as a key global production base.
Earlier, Na Ki-hong, a vice president and head of Samsung Electronics’ Vietnam Strategy Cooperation Office, said Samsung would continue stable investment based on trust with the Vietnamese government and authorities in Thai Nguyen province. Beyond manufacturing, Samsung runs a supply-chain linkage program for 379 Vietnamese companies, supports productivity improvements and has trained hundreds of local experts to strengthen the industrial ecosystem.
◆ Taihan Vina to invest 80 billion won in extra-high-voltage cable production
Another company to watch is Taihan Vina, Taihan Cable & Solution’s manufacturing unit in Vietnam. Founded in 2005, it is a major cable maker producing high-voltage (HV) and medium- and low-voltage (MV/LV) power cables and overhead lines.
The company will sign a memorandum of understanding to expand cooperation in Vietnam’s power infrastructure and construction sectors. Choi Seung-ho, head of Taihan Vina, said the agreement covers cooperation on power-cable supply, technical consulting and sharing market information.
Taihan Vina is reviewing plans to build a second plant in northern Vietnam, aiming to develop Vietnam as an export base for major projects in the United States and Europe.
Choi said large national projects — including expansion of transmission networks, the shift to renewable energy, restarting nuclear power, new-city development and high-speed rail construction — are directly tied to the power-cable industry. He said South Korean companies’ high-voltage direct current (HVDC) transmission technology, EPC capabilities and project-financing experience can complement Vietnam’s needs.
He also proposed policy support from both governments to ensure fair competition and to expand cooperation on training technical personnel in South Korea and Vietnam.
* This article has been translated by AI.
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